ITAT held that non-filing of Form 3CL cannot justify disallowance of R&D deduction under Section 35(2AB) and remanded the case for verification of expenses

The Tribunal found the reduction commercially justified and non-prejudicial to shareholders or creditors. The ruling underscores that surplus capital may be returned when operational focus changes and statutory compliance is ensured.

The Tribunal found the reduction commercially justified and non-prejudicial to shareholders or creditors. The ruling underscores that surplus capital may be returned when operational focus changes and statutory compliance is ensured.